News Headlines Article

Solta Medical sets up $60 million credit deal
San Francisco Business Times

Solta Medical Inc. made a deal to borrow up to $60 million at an interest rate of 13.5 percent per year. The rate is nearly double the current junk bond rates, which are currently at about 7 percent. Hayward-based Solta (NASDAQ: SLTM) will take money in two tranches under this deal, made with Capital Royalty Partners. First it will borrow $40 million to help pay off and terminate an existing loan with Silicon Valley Bank.